Warning over 'extremely rare' Beatrix Potter 50p coin being sold for £39,500 on eBay - despite being worth just £2

Coin dealership Philatelic Heritage says over the last year visitors have been left 'horrified' to discover they have spent their retirement funds on coins worth less than a cup of coffee.

Coin collectors are being urged to do their research before splashing out on rare coins after being left “horrified” to discover they are worth less than a cup of coffee.

Coin dealership Philatelic Heritage says over the last year visitors have been left devastated after making huge purchases on eBay, only to find out the coins are not worth the vast sums they paid.

One recent listing in Berkshire is offering an 'extremely Rare 2017 Beatrix Potter 50p' for £39,500.

But according to the Royal Mint, more than 25 million coins were created - and they can be bought from a variety of online retailers for as little as £2.

A rarer version of the coin - with Queen Elizabeth II's head printed upside down in error - has previously sold on eBay for several hundred pounds.

Nigel Montgomery, who runs Philatelic Heritage and has been in the rare coins business for more than 50 years, says he has had to leave recent visitors crestfallen due to their eBay purchases.

He said: "People are just trying it on. Regretfully, some people fall for it. I see it all the time. We have enquiries ever single day.

"For example you will see on eBay these 1977 Jubilee crowns. They are advertised from £5,000 to £10,000. You can buy them here for less than £10.

"I had a man come along way with one of those 1970s coins. He said, 'you'd pay thousands for these'.

"When I told him the market value, he was horrified.

"He said, 'how can you sell them for £1 when they are worth £5,000?' I said, 'they're not'."

"Recently, I had a customer who had £10,000 from his retirement. He had bought a 2p coin on eBay. They spent £10,000.

"The coin was worth 2p."

eBay does not enforce pricing regulations for non-essential items, such as collectible coins, according to the online marketplace.

But the company does 'expect sellers to be accurate in their listing descriptions', according to a spokesperson.

They said: "Any misleading claims about the items they are selling are against our policies. We encourage buyers to research listings carefully and only make purchases they feel comfortable with."

The Royal Mint website has information to help potential buyers looking to spend large sums on a coin.

Rebecca Morgan, Director of Commemorative Coin at The Royal Mint, says: “There are occasionally reports of coins selling for large amounts on the secondary market, some of which seem a bit farfetched, so we want to ensure collectors have the right information and pay a fair price.

“A coin is ultimately worth what the collector is willing to pay for it, but there are factors you should consider before committing to a price. This can include the condition of the coin, its design, mintage figure and what it’s made of.

“If you have a coin and are unsure about its history, rarity or authenticity we offer a range of services at The Royal Mint to help establish its likely value, and help our customers build a bespoke collection."

The seller of the 'rare' 2017 50p coin was contacted for comment.